APAMAN and SYLA Partner to Tackle Severe Rental Shortage in Greater Tokyo Area

APAMAN Co., Ltd. (Head office: Chuo-ku, Tokyo; Representative Director and President: Kai Yamazaki; hereinafter "Apaman Shop"), which boasts the No. 1 market share in terms of number of stores and contracts in the rental housing brokerage business*1, *2, and SYLA Holdings Co., Ltd. (Head office: Shibuya-ku, Tokyo; Representative Director and Chairman: Hiroyuki Sugimoto; hereinafter "SYLA"), which operates "Rimawarikun," one of Japan's largest real estate crowdfunding platforms, have concluded a business alliance to solve the social issue of rental housing supply shortage in the Greater Tokyo Area. Through this alliance, information on newly constructed rental condominiums in central Tokyo developed and managed by SYLA will be exclusively offered in advance (partially) through Apaman Shop's nationwide network. As the supply of new constructions reaches record lows due to soaring construction costs and labor shortages, the two companies will combine their strengths to promptly provide information to customers and quickly realize a stable supply of housing environments. **■ Background of the Alliance: Worsening "Housing Shortage" in the Greater Tokyo Area** Currently, the real estate market in the Greater Tokyo Area faces a triple challenge: "stagnation of new construction supply," "soaring property prices (billion-yen condominiums)," and "accelerated return to the city center." Particularly, due to a demand shift from "buying to renting," the supply and demand for high-quality properties, especially in the 23 wards of Tokyo, is extremely tight. To address this social anxiety caused by "rising rents" and "property shortages," SYLA, with its strong development capabilities, and Apaman Shop, with its overwhelming brokerage power, have teamed up to establish a system for directly and swiftly delivering high-quality new properties to the market. **■ Main Initiatives of This Alliance** * Exclusive pre-leasing of new properties (partial): High-quality new condominiums developed by SYLA will be offered through Apaman Shop prior to general public release. * One-stop information provision system: Utilize online customer service and DX tools to provide stress-free room searching in urban areas where supply and demand are tightening. * Optimization of market needs: Feedback on customer needs from the field will be incorporated into development plans to promote the supply of truly desired housing. **■ Comment from Hiroyuki Sugimoto, Representative Director, Chairman & CEO, SYLA Holdings Co., Ltd.** This alliance is an initiative to combine our development capabilities with Apaman Shop's leasing power to deliver high-quality properties to the market more quickly in the Greater Tokyo rental market, where supply and demand remain tight. Currently, the influx of people into urban areas continues, and housing needs are steadily expanding. On the other hand, new supply is constrained due to rising construction costs, and the supply and demand balance remains tight. By proactively introducing high-quality properties, particularly the "SYFORME" series of new condominiums in central Tokyo, through a nationwide brokerage network, we will maximize occupancy rates, shorten leasing periods, and directly contribute to improving asset profitability. Furthermore, real-time customer needs obtained through this alliance will be fed back into future development plans, leading to further evolution of our brands, represented by "SYFORME," and strengthening supply optimization and competitive advantage. Our strength lies in a business model that optimizes everything from procurement to planning, development, sales, and management in an integrated manner. By further enhancing collaboration with external partners through this alliance, we will achieve sustainable growth and improved profitability, and work to solve housing environment issues in cities. **■ Comment from Kai Yamazaki, Representative Director and President, APAMAN Co., Ltd.** This alliance is a highly strategic initiative that directly connects Apaman Shop's proud "overwhelming brokerage platform" with SYLA's "exceptional development capabilities" in the Greater Tokyo rental market, where severe supply and demand tightness continues. Currently, in urban areas, due to the stagnation of new construction supply and the concentration of demand, it has become unprecedentedly difficult for customers to find their ideal homes. With our strengths as the No. 1*1 store network and contract achievements*2 nationwide, we have built an advanced leasing environment adapted to the times, including online customer service and non-face-to-face specialized stores. Through this alliance, by directly linking our core system with SYLA's management system, we will be able to provide real-time vacancy information for high-quality new condominiums such as the "SYFORME" series to the market while maintaining its freshness. Furthermore, by providing feedback to SYLA on the "raw voices" from millions of customer service interactions annually, we will promote the supply of housing that the market truly demands and contribute to resolving supply-demand mismatches. We will continue to accelerate the fusion of technology and in-person services to ensure a stable supply of housing, which is a social issue, and maximize the customer experience value of finding a room. *1▼No. 1 in Number of Rental Housing Brokerage Stores *Survey overview and methodology: Desk research and interview survey targeting "rental housing brokerage business" Survey period: May 14, 2024 - May 28, 2024 Survey conducted by: Xcrie Co., Ltd. Comparison target companies: 10 major companies operating "rental housing brokerage business" *Excluding overseas corporations (however, independent Japanese corporations are included) *2▼No. 1 in Number of Rental Housing Brokerage Contracts *Survey overview and methodology: Desk research and interview survey targeting "rental housing brokerage business" Contract target period: September 1, 2024 - August 31, 2025 Survey conducted by: Tokyo Shoko Research, Ltd. Survey period: October 1, 2025 - October 27, 2025 Comparison target companies: 10 major companies operating "rental housing brokerage business" (limited to brands with unified facades ) *Excluding overseas corporations (however, independent Japanese corporations are included)